Trading and shipping products online have never been more accessible. The e-commerce industry is booming as more and more companies are branching off from local services to international markets. As shopping online is now becoming a more attractive option with the wide variety of products from hand-knit sweaters to stylized furniture which can be ordered from the comfort of your own home. Taking advantage of the international scene is an attractive business proposition for online retailers. If you’re planning to move your business abroad, here are a few tips that can help you ease the transition to branching from local to worldwide.
Consider if what you’re selling is worth the risk
One thing to think about when retailing your products abroad is knowing whether or not your product is marketable overseas. If your product only serves a small demographic, you might want to think twice before shipping your product overseas as local competitors can trump you easily. If you are careless enough to risk it, you might end up spending more on shipping costs compared to dealing with local customers.
Be familiar with who you’re dealing with
Different countries have different shipping rules, regulations, and requirements. One of the more bizarre rules of international customs is Vietnam’s labelling of foreign-made calendars as illegal items. There are hundreds of country-specific laws and regulations, and that doesn’t even include the different tariff rates. Being aware of these rules could save you from the hassle of clearing up a misunderstanding that could cost you thousands to fix.
A smart business owner would learn how to choose the right international waters to cross. Knowing the best place for your products both for the perks and the financial considerations is a great way to expand your business abroad. Once you’ve settled in, you can look towards branching off to the neighbouring areas for expansion.
Compute the shipping costs
In going overseas, you will have to take into consideration storage and shipping costs. Adjusting your prices accordingly after taking into consideration transport costs, shipping costs, international taxes and the like, will lead you to have the final value of a “landed cost” which is the price of your product after considering all the extra fees. Keeping a tabulated receipt to present to your retailers is a smart way of doing business and making sure that your prices are fair considering the international rates concerned.
Find the right shipping service
Finding an appropriate shipping service for your needs will help you keep up-to-date with the changing rules and regulations that change in international trade. To save yourself the trouble of memorising all the rules and regulations for every country that you wish to do business in, you can opt to hire a shipment service to manage your products undergoing international travel. Services like movecorp deal in saving you the headache of computing for terminal fees, customs clearances and property insurance so that you know your products are safe and secure.